Exmar, Swan Energy to Build FSRU Terminal in India

Exmar has entered into an agreement with Swan Energy to build and operate India’s first Floating, Storage and Regasification Unit (FSRU).

The Jafrabad LNG Port project will be located in the western Indian state of Gujarat. It will be a 5 million tons per annum (MTPA) LNG receiving terminal, with one jettymoored FSRU, Exmar said in a statement Tuesday.

“The two partners have the firm intention to expand the terminal to 10 MTPA, through the deployment of a second FSRU,” Exmar added.

The parties are in negotiation with EPC contractors for the breakwater, jetties, topsides and onshore receiving facilities. Final investment decision is therefore planned for the first half of 2016.

Heads of Agreements are in place for an initial 4.5 MTPA regasification capacity, over a period of 20 years, Exmar said.

Detailed negotiations are in progress with the four users:  ONGC, Indian Oil Corp and BPCL and the Gujarat State Petroleum Corporation Limited (GSPCL).